Stocks rise on Dell

NEW YORK (CNNMoney.com) -- Dell's upbeat earnings report boosted the tech stocks Wednesday morning, at the start of what is expected to be a quiet session, ahead of Thanksgiving.

The Nasdaq composite (up 9.27 to 2,464.11, Charts) added 0.3 percent in the early going, after ending the previous session at its highest level since February 2001.

The Dow Jones industrial average (up 33.96 to 12,355.55, Charts) gained 0.2 percent. The broader S&P 500 (up 4.05 to 1,406.86, Charts) index also climbed 0.2 percent, after ending the previous session at a six-year high.

Stocks managed slim gains Tuesday, with investors hampered by surging oil prices.

Oil prices were more subdued Wednesday morning, enabling stock investors to focus on positive company news, including Dell's preliminary earnings report, released late Tuesday.

Dell (up $2.71 to $27.53, Charts) reported higher quarterly earnings that topped estimates on revenue that was just short of estimates. Earnings were initially expected last week, but were delayed because of an accounting probe.

Dell shares gained about 8 percent Wednesday morning.

Investors also kept an eye on the day's economic news. Weekly jobless claims rose by a greater-than-expected 12,000 last week to 321,000. However, the report still showed a healthy labor market.

The revised reading on consumer sentiment from the University of Michigan and the weekly crude oil inventories report are also due shortly.

Trading volume was expected to be light ahead of Thanksgiving. All financial markets are closed Thursday for the holiday, and close early Friday.

U.S. light crude oil for January delivery rose 8 cents to $60.25 a barrel in electronic trading.

Treasury bond prices inched higher, with the yield on the ten-year note standing at 4.57 percent, little changed from late Tuesday. Treasury prices and yields move in opposite directions.

COMEX gold gained $2.30 to $631 an ounce.

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